^{Ways to Bank with us} Liabilities Management Tools/ Guidelines

Why is it important to pay financial liabilities on time?

If your circumstances change and you start falling behind on your financial liabilities payments it can be difficult to know what to do. It is important to know that while things can be difficult, you are not alone.

There are quick and easy things you can do and people you can talk with, to help you get your finances back on track.

Even one missed or late payment – particularly those in the last 12 months – can weaken your credit score. If you miss repayments, you may be charged a fee (undertakes to donate to charity) and it can be detrimental to your credit score, making it more difficult to obtain credit in the future.

If you miss repayments on a secured finance like Auto finance or Home finance, your car or property could be at risk of repossession.

Under UAE regulations, we are required to share credit information, including details of any overdue payments, with the Al Etihad Credit Bureau (AECB).

We encourage you to act promptly to manage your account. Addressing your situation now can help you avoid further steps in the collections process and potential impacts on your credit report.

Our dedicated team is here to provide immediate support and discuss flexible repayment solutions tailored to your current circumstances. Please contact us or visit your nearest Al Hilal Bank branch to explore available options.

What are some tools for effective debt management?

• Pay at least the minimum on time to ensure you are within your limit.
• Increase your repayment amounts
• Pay on time and stay within your limits.

There may be certain points in the year where you come into extra funds. It could be that you just have some money left over at the end of the month. If this happens, and you are able to make overpayments without any charge or penalty, then you could use that spare money to repay your debt.

Tips on Managing Debts

• Refer to our new money management tool that helps you manage your finances and steer your money the right direction
• Tell us as soon as possible if you have payment difficulties or expect future problems
• Get in touch with us quickly if we try to contact you.
• Keep to the payment plan we agree with you.
• Let us know if you move to a new address or change your phone number.
• For Details on Fees & Charges applicable on your product , please visit Charges and Fees

Contact Us

Timely payments are important for establishing and maintaining a good credit rating. If you are late in your payment, we will attempt to telephone you or visit you based on mutual consent. If we cannot reach you, we will leave a message at one of the telephone numbers provided by you. If there is a better way to reach you in this situation, please let us know.

If you are unable to keep your payments up to date, you should contact us as soon as possible as we may be able to help you. If you do not contact us and do not make any payments the following may happen:

• Your Credit rating may be adversely affected.
• Fees (undertakes to donate to charity) may be continue to be charged to your account increasing the amount you owe.
• Your account may be referred to a Debt Collection Agency.
• The bank may defer to legal recourse to secure the amount due
• The full balance on your account may become immediately due & payable.

In case you wish to contact us regarding the overdue payments or for any payment assistance on the distressed debt, you can contact our Service Desk recoveryauh@ALHILALBANK.AE indicating your Customer Identification Number (CIF) with details of your query and one of our Credit Counselors will get in touch with you on the registered contact details.

Please ensure your records with Al Hilal Bank are always up to date by providing your latest contact details, including your address, telephone number, and employment information.

You can update your details conveniently through the Al Hilal Bank Mobile App. Alternatively, you may visit any of our branches.

For a full list of branch locations, please refer to our website: Al Hilal Bank | Branches & ATMs